U.S. Natural Gas Fund Premium at 0.12% on Nov. 1

Nov. 2 (Bloomberg) -- The U.S. Natural Gas Fund, the
largest exchange-traded fund in the fuel, closed at a premium
of 0.12 percent on Nov. 1, according to figures on the fund’s
website. A premium means that the closing price of the shares
is higher than the value of its underlying holdings in the fuel.

Natural gas for December delivery fell 15.3 cents, or 3.9
percent, to $3.781 per million British thermal units on the
New York Mercantile Exchange on Nov. 1.

NOTE: To sidestep position limits imposed by the Commodity
Futures Trading Commission, the fund buys bilateral,
over-the-counter swaps that are not subject to exchange
limits. These swaps are fully collateralized with investment
grade counterparties.

The fund aims to track the price of natural gas delivered
at Henry Hub in Erath, Louisiana, the delivery point for the
future traded on the New York Mercantile Exchange. The ETF
buys the near-month contract, then rolls forward by selling it
before expiration and buying the following month.